Nigerian Senate don pass Tax Reform Bills for second reading. The bills, wey get four major proposals, go increase the Value-Added Tax (VAT) wey states go dey get to 55 percent, while Federal Government share go reduce to 10 percent.

The new bills also propose make VAT no dey charged on exports and essential goods, plus make company income tax reduce from 30 to 25 percent, among other changes.

The bills don go to the Committee on Finance for further work, and dem go invite all the stakeholders for public hearing to discuss any concerns. The committee go report back to the Senate in six weeks.

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